The Prof G Pod with Scott Galloway Office Hours: Online Advertising, Seed Funding, and Teaching Entrepreneurship
Aug 2, 2021
The discussion kicks off with a look at the future of advertising amid the cookie crumble, focusing on the need for innovative strategies. Next, major influences on the online advertising landscape are explored, advocating for a shift to subscription models. The essential art of selling in entrepreneurship takes center stage, emphasizing the journey from seed funding to growth. There’s also a dive into the potential of distressed investments and the importance of networks. Finally, insights about creating an entrepreneurship-focused high school underline the necessity of product development over mere fundraising.
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Episode notes
Evolution of Advertising
- Online advertising has shifted from demographic and contextual targeting to behavioral targeting, which is highly effective but raises privacy concerns.
- Apple's move to limit third-party cookies benefits them as they profit from product sales rather than ads.
Toxicity of the Ad Model
- The ad-driven model incentivizes platforms to create enraging content because it increases engagement.
- This leads to a toxic online environment and a degradation of public discourse.
Focus on the Product
- Focus on product development and achieving tangible progress, such as revenue or product-market fit.
- Raising money is not the same as building a successful business.